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<br />Ones f@k to preMSt Use security of
<br />1. Thu he will Pay the indebtedness, as hareinbcfore provided
<br />Privies is reserved to pay the debt in whole or in part on any
<br />installment due date.
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<br />a lei A sum egaal to the ground rents, if any, next due, plus the
<br />Premiums that will text become due and payable on policies of
<br />fire and other hazard insurance covering the mortgaged property,
<br />plus taxes and assessments text due on the mortgaged Property
<br />(ad as estimated by the Mcrrgggeet less all sutras already paid
<br />therefor divide) by the number of months to elapse before one
<br />(1) month prior to the date when such grouted rents, premiums,
<br />rasa and s will become delinquent, such sums to be
<br />bW by Mtxtgager in trust to Pay said ground rents, premiums,
<br />taxes and special assessments; and
<br />b XU All payments mentioned in the two preceding subsections
<br />Of this Paragraph and all payments to be made under the note
<br />secured hereby shalt be added together. and the aggregate amount
<br />the roof shill be paid by the Mongagor each month in a single
<br />Payment to be applied by the Mortgagee to the following items in
<br />the order set forth:
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<br />(,1) xt#) ground rents, taxes, assessments, fire and other hazard
<br />insurance premiums;
<br />( I t ) > interest on the note secured hereby;
<br />(I I I )1 amortization of the principal of said note; and
<br />(I V)XXft) late charges.
<br />Any deficiency in the amount of such aggregate monthly pay-
<br />main shall, unless mule good by the Mortgagor prior to the due
<br />date of the text such payment. constitute an event of default
<br />under title mortgage. The Mortgagee tray collect a "late charge.'
<br />not to exceed four cents (at) for each dollar 40 of each day
<br />t More than fifteen (IS) days in arrears to cover the extra ex-
<br />pense involved in handling delinquent payments,
<br />3. i�1f the total of the payments made by the Mortgagor
<br />under df paragraph 2 Preceding shall exceed the amount of
<br />Payments acttuuy made by the Mortgagee for ground resets, taxes
<br />and assessments or insurance premiums, u the cue may be. moult
<br />excess, if the loan is current, at the option of the Mortgagor.
<br />&half be credited by the Mortgagee on subsequent hymens to be
<br />made by the Mortgagor, or refunded to the Mortgtgor, if,
<br />!RVM- the monthly Payments made by the Mortgagor under
<br />MY Of Paragraph 2 preceding shall not be sufffcfait to pay
<br />groutsd rents, taxes and assessments or insurance Premiums, as
<br />the cue may be. when the $ame shall become due and payable,
<br />theft the Mortgagor shall Pay to the Mortgagee any amount
<br />necessary to make up the deficiency, on or before the due when
<br />Payment of such ground rents, taxes, ts, or ineuranoc
<br />Premiums shalt be due. If at any titre the Mortgagor sha)f canter
<br />to the Mortgagee, in accordance with the provisions of the note
<br />secured hereby, full payment of the entire indebtedness
<br />rePresemted thereby, the Mortgages shall, in computing the
<br />amount of such indebtedness, credit to the account of the Mtm-
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<br />any
<br />bafat. { emaining in the funds accumulated under the provisloas
<br />of * of paragraph 2 hereof. If there shall be a default under
<br />any of the provisions of this mortgage resulting in a public sale
<br />Of the Premises covered hereby, or if the Mortgagee acquires the
<br />Property otherwise after default, the Mortgagee shall apply. at
<br />the time of the commencement of such proceedings, or at the
<br />time the property is otherwise acquired, the balance then remain.
<br />ing in the funds accumulated un(dh?*) of paragraph 2 preceding,
<br />as a credit against the amount of principal ohm remaining unpaid
<br />under $aid X
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<br />d. That the Mortgagor will pay ground rents, taxes,
<br />assessments, water rates, and other governmental or municipal
<br />charges, fines, or impositions, for which provision has not been
<br />made hereinbefore, and in default thereof the Mortgagee may
<br />pay the same; and that the Mortgagor will promptly deliver the
<br />official receipts therefor to the Mortgagee.
<br />S. The Mortgagor will Pay alt taxes which may be levied upon
<br />the Mortgagee's interest in sad real estate and improvements,
<br />and which may be levied upon this mortgage or the debt secured
<br />hereby (but only to the extent that such is not prohibited by law
<br />and only to the extent that such will not make this ban
<br />usurious), but excluding any income tax, State or Federal, im.
<br />Posed on Mortgagee, and will file the official receipt showing
<br />such Payment with the Mortgagee. Upon violation of this under-
<br />taking, or if the Mortgagor is prohibited by any law now or
<br />hereafter existing from paying the whole or any portion of the
<br />aforesaid taxes, or upon the rendering of any court decree pro.
<br />hibiting the payment by tht Mortgagor of any such taxes, or if
<br />such law or decree provides that any amount so paid by the
<br />Mortgagor shall be credited on the mortgage debt, the Mortgagee
<br />shall have the right to give ninety days' written notice to the
<br />owner of the mortgaged premises, requiring the payment of the
<br />mortgage dcbt. If such notice be given, the said debt shall
<br />become due, payable and collectible at the expiration of said
<br />ninety days.
<br />6. That should the Mortgagor fail to Pay any sum or keep any
<br />covenant provided for in this mortgage, then the Mortgagee, at
<br />is option, may pay or perform the same, and all expenditures so
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